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Which of the following is NOT explicitly prohibited by the ACFE Code of Professional Ethics?
Which of the following is NOT explicitly prohibited by the ACFE Code of Professional Ethics?A . Acting in a way that could be deemed unethical by the industry B. Drawing conclusions based upon evidence C. Participating in an activity where there is an undisclosed conflict of interest D. Engaging in...
In the context of a fraud examination, integrity requires all of the following EXCEPT:
In the context of a fraud examination, integrity requires all of the following EXCEPT:A . Trustworthiness B. A well-developed sense of moral philosophy C. Avoidance of conflicts of interest D. Refusal to admit errorsView AnswerAnswer: D
Having specialized departments within a company often increases the overall risk ot traud by the organization.
Having specialized departments within a company often increases the overall risk ot traud by the organization.A . True B. FalseView AnswerAnswer: A
Which of the following is NOT among these five components?
According to the Committee of Sponsoring Organizations of the Treadway Commission's (COSO) Internal Control-integrated Framework (the Framework), there are five interrelated components of a company's internal control . Which of the following is NOT among these five components?A . Monitoring B. Control environment C. Independent oversight D. Information and communicationView...
In identifying the inherent fraud risks that could apply to the organization, the fraud risk assessment team should discuss:
In identifying the inherent fraud risks that could apply to the organization, the fraud risk assessment team should discuss:A . The organization's incentive programs B. The possibility of management's override of controls C. Risks to the organization's reputation D. All of the aboveView AnswerAnswer: D
Professional auditing standards suggest that auditors incorporate an "element of predictability" in the selection of auditing procedures to be performed so that they ensure the same areas are tested in the same manner during each audit.
Professional auditing standards suggest that auditors incorporate an "element of predictability" in the selection of auditing procedures to be performed so that they ensure the same areas are tested in the same manner during each audit.A . True B. FalseView AnswerAnswer: B
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) defines____________ as "a process, effected by an entity's board of directors, management, and other personnel, designed to provide reasonable assurance regarding the achievement of objectives relating to operations, reporting, and compliance."
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) defines____________ as "a process, effected by an entity's board of directors, management, and other personnel, designed to provide reasonable assurance regarding the achievement of objectives relating to operations, reporting, and compliance."A . Corporate compliance B. Fraud risk management C. Risk...
According to the authors of Crimes of the Middle Classes, all of the following factors have contributed to the rising problem of economic crime EXCEPT:
According to the authors of Crimes of the Middle Classes, all of the following factors have contributed to the rising problem of economic crime EXCEPT:A . The continued pressures of a culture that rewards affluence and success B. The economy's increased reliance on credit C. The increased constraints of the...
Which of the following is TRUE regarding the auditor's consideration of fraud during this engagement?
A government auditor is conducting a financial statement audit of a public-sector entity in accordance with the International Standards of Supreme Audit Institutions (ISSAI) . Which of the following is TRUE regarding the auditor's consideration of fraud during this engagement?A . In addition to fraud, the auditor should remain alert...
Which of the following is TRUE regarding prosecutions of white-collar criminals?
Which of the following is TRUE regarding prosecutions of white-collar criminals?A . Only a small percentage of perpetrators are punished when an organization deals with a fraud case internally. B. Most fraud cases are only handled internally and are not referred to law enforcement for prosecution C. The primary reason...
